Phoenix Luxury Homes
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Home | $800~$2M | $2M~$4M | $4M~$6M | $6M+ | Condos~THs | Open House | Market Report | Office Listings | Sellers | ~ Select Cities ~ Cave Creek | Paradise Valley | Phoenix | Scottsdale | Neighborhoods
Welcome to Phoenix Luxury Homes where we hope you enjoy your time here. Your Search Results will appear below showing the “Newest Listings” first. We can also provide Live Video Previews for your favorite Luxury Homes! 🙂
(Phoenix Luxury Homes)
Our Median Sales Price in December was $1,175,000, up 19.3% from $985,000 in December of 2019 and up 6.8% from $1,100,000 last month. The average sales price in December was $1,310,621, up 8.3% from $1,210,009 in December of 2019 and up 5.0% from $1,248,724 last month. December 2020 ASP was at highest level compared to December of 2019 and 2018. (more market report below photos)
We can currently see (261) Luxury Homes available today in Phoenix. (inventory is falling)
Phoenix Luxury Homes ~ Newest Listings
Phoenix Luxury Homes ~ Monthly Market Report
(for Phoenix Luxury Homes) Our December property sales were 112, up from 61 in December of 2019 and 41.8% higher than the 79 sales last month. December 2020 sales were at their highest level compared to December of 2019 and 2018. December YTD sales of 935 are running 46.6% ahead of last year’s year-to-date sales of 638.
(for Phoenix Luxury Homes) The total inventory of properties available for sale as of December was 274, up 0.7% from 272 last month and down -12.2% from 312 in December of last year. December 2020 Inventory was at the lowest level compared to December of 2019 and 2018.
The average Days On Market (DOM) shows how many days the average property is on the market before it sells. An upward trend in DOM tends to indicate a move towards more of a buyer’s market, a downward trend a move towards more of a seller’s market. The DOM for December was 50, down from 51 days last month and down from 94 days in December of last year. The December 2020 DOM was at its lowest level compared with December of 2019 and 2018.
Selling Price / Square Foot
The selling price per square foot is a great indicator for the direction of property values. Since median sales price and average sales price can be impacted by the ‘mix’ of high or low end properties in the market, the selling price per square foot is a more normalized indicator on the direction of property values. The December 2020 selling price per square foot of $337 was down -5.3% from $356 last month and down -0.6% from $339 in December of last year.
Selling Price vs Listing Price
The selling price vs listing price reveals the average amount that sellers are agreeing to come down from their list price. The lower the ratio is below 100% the more of a buyer’s market exists, a ratio at or above 100% indicates more of a seller’s market. The December 2020 selling price vs list price of 95.6% was down from 96.8% last month and up from 92.7% in December of last year.
Whether you’re thinking about buying or selling, you can contact us directly to discuss your local market. We’d love to be your trusted real estate adviser if you’re looking to make a change this year. Please feel free to contact us with any questions, as we will be happy to hear from you – Thanks!! (480)208-7955 ~ Our Office is located here, and you can also see us at Paradise Valley Homes 🙂